Amazon.com Inc (NASDAQ:AMZN) is tapping the US corporate bond market for the first time in roughly three years, seeking to raise about $12 billion through a multi-part, investment-grade offering.
The tech giant is selling bonds in up to six tranches, with the longest, a 40-year note, initially discussed at around 115 basis points over Treasuries, according to sources familiar with the matter.
Proceeds are expected to fund general corporate purposes, including data center expansion, logistics, and artificial intelligence infrastructure.
Goldman Sachs, JPMorgan Chase and Morgan Stanley are managing the sale.
The offering comes amid a surge of debt issuance from major tech firms. Alphabet sold $25 billion in bonds earlier this month, Meta Platforms sold $30 billion last month, and Oracle issued $18 billion in September. Global corporate bond issuance has already topped $6 trillion in 2025, with JPMorgan forecasting US high-grade debt could reach a record $1.81 trillion next year as companies finance AI investments.
Amazon has been ramping up capital expenditures, which rose 61% to $34.2 billion in the third quarter, reflecting heavy investment in data centers and chip technology. The company’s cloud unit recently signed a $38 billion, seven-year deal with OpenAI to supply hundreds of thousands of Nvidia graphics processing units.
The bonds are expected to price later on Monday.